Risk - EMEA Head of LTA (Low Touch Algorithmic Trading Activities) - Director Risk - EMEA Head of LTA (Low Touch Algorithmic  …

Citi
à Londres, Angleterre, Royaume-Uni
CDI, Plein-temps
Soyez parmi les premiers à postuler
Competitive
Citi
à Londres, Angleterre, Royaume-Uni
CDI, Plein-temps
Soyez parmi les premiers à postuler
Competitive
Risk - EMEA Head of LTA (Low Touch Algorithmic Trading Activities) - Director
  • Primary Location: United Kingdom,England,London
  • Education: Master's Degree
  • Job Function: Risk Management
  • Schedule: Full-time
  • Shift: Day Job
  • Employee Status: Regular
  • Travel Time: No
  • Job ID: 19036431


Description

Job Purpose:


This role will lead second-line oversight of high frequency, low touch algorithmic (LTA) trading activities across all firm activities which is currently concentrated in CGML and CBNA London branch, but expanding to CGME and other product capabilities in Markets Security Services (MSS) and  potentially also expanding into other distribution businesses and sectors such as the Private Bank.

Job Background / Context:


This role reports into the UK CRO and is a critical part of the EMEA franchise given the significance of the legal entities covered, most notably CGML the international broker-dealer based in the UK which has assets of $140B / net income of $312mm and CBNA London Branch with assets of $120B / net income of $707mm. 

The key aspects for the EMEA Head of Algorithmic Trading Risk Management role are to independently assess and understand the current usage of all LTA activities in Citi EMEA, understand the business growth in LTA and 'electrification' and to ensure the second-line collectively design and maintain a risk management and control framework that incorporates all risk management.

This role will be critical in liaising with relevant authorities particularly the PRA (who have very advanced industry requirements) but expanding to other European agencies including the ECB.

The role will be required to understand all distribution channels where LTA is deployed and the technology used to support them and subsequently develop and maintain a risk framework including overseeing adherence to Risk appetite, change management of LTA practices and second-line oversight of limit frameworks and relevant stress analysis.

The role is responsible for supporting the UK CRO in managing the regulatory risk management relationship. Responsibilities include ensuring compliance with key regulatory deliverables.  Close cooperation is required with other Risk teams, Finance, Treasury, Compliance, Legal and Business (first line of defence) teams and ability to manage via influence is a prerequisite.

This role is at time will be a delegate for the UK CRO or a participant in key regional and UK committees and governance forums.  

Additionally, this role is in the UK and EMEA CRO office so will also be involved in a wide variety of UK and EMEA strategic initiatives and day-to-day risk management for UK vehicles.

Key Responsibilities:

The EMEA Head of LTA for plays the pivotal role in leading and protecting all risks related to the relevant legal entities and will be accountable for:

  • Identifying and categorising the risks associated with all Algo's booked on CGML, CBNA London branch and CEP UK.

  • In coordination with Markets Security Services (MSS) and OandT plus other Risk functions, establish and validate a risk management framework.

  • Understanding the universe inventory of LTA activities and engage in control processes such as NPAC where new Algos are being used; reviewing intraday Algo's exposure to identify and control 'run-away' risk.

  • Challenge business risk appetite and co-ordinate a limit structure used to monitor LTA activity using a combination of Credit and Market risk limit structures and stress testing around client concentrations or market infrastructure.

  • Oversee the business governance and control framework including the LTA process management, supervision and surveillance controls including real-time oversight of market integrity and conduct concerns.

  • Ensure the combination of technology and financial modelling is adequately overseen and challenged including the independent review of Algo strategies and the changes to trading assumptions within Algos.

  • Active monitoring of the operational resilience, client availability and appropriate resilience stress testing as well as the risk assessment of new technologies applied to the channel.

  • Development and identification of key performance metrics to measure the effectiveness of the first and second line control framework.

  • Reviewing, challenging and approving the use of Algo's.

  • Develop a uniform standard for the use of Algo controls taking into account the potential market impact and 'run-away' risk.

  • Proactive engagement with all governance forums.

  • Establishes new and strengthens on-going relationships with a network of key stakeholders, partnering with senior colleagues (Market, Credit, Liquidity, and Operational Risk as well as Quantitative Risk and Stress Testing (QRS)), inspiring with confidence to provide insight and drive implementation of the strategic initiatives.

  • Through strategic and operational leadership, supports the UK CRO on a wide spectrum of Risk management and governance activities, executing and driving the strategy on their behalf and co-ordinating the UK Risk Management Executive Committee on behalf of the UK CRO. 

  • As a delegate for the UK CRO this role will:
       - Serve as the liaison with regulatory examiners, Citigroup (IA), and external auditors on all significant Risk Management related issues;
       - Participate in key regional and legal entity forums;
       - Manage and centrally co-ordinate Citi's EMEA Risk Management interactions with key external constituencies, including regulatory, other official institutions and rating agencies;

  • This role has significant governance and control accountabilities, ensuring best in class governance and controls to effectively manage and govern the legal vehicles which includes:
       - All risk-related regulations applicable to UK CGML and CBNA London Branch, ensuring common purpose across the Franchise
       - Drive continuous improvement and enhancement of policies and procedures, and robust governance processes across both legal vehicles


Development Value:


This role will provide unique visibility, cross-functional and cross-Risk experience and knowledge. The position involves a significant amount of interaction with senior management and direct involvement in a variety of the critical strategic projects within Citi in the EMEA region. The role will provide a strong understanding of the UK regulatory environment, the EMEA businesses and Risk governance. It will prominently be involved in delivering and fronting risk to local management and market risk across market, credit, operational, liquidity and franchise risk processes.

Opportunities also exist to broaden the breadth of cross firm experience across the products and functions in a general senior management leadership role.

Qualifications

  • Graduate degree


Knowledge/Experience:

  • Knowledge of Citi's markets businesses

  • A high-level of understanding the market micro structure and markets operating environment.

  • Familiarity with algorithms and e-trading, in particular FX and Equities.

  • An understanding of the current electronic trading regulatory framework in particular MiFID II and PRA SS5/18

  • Previous experience as a trader or risk manager is preferred.

  • Programming skills - Python or R preferred.

  • Some exposure to AI, Machine Learning will be considered a significant plus in the selection of the successful candidate.

  • Risk management background, covering market, credit and operational risk

  • Experience of legal entity risk

  • People manager with extensive and progressive management experience and a track record of delivering results in a complex environment

  • Recognised leader who embraces change and has proven experience of delivering strategic initiatives

  • Experience interacting with regulators


Skills:



  • Diverse and wide range of skills and knowledge / expertise

  • First-class communicator and relationship builder with the authority and passion to promote growth and impact

  • Strong organisational skills and the ability to multi-task effectively in a high-volume and complex environment with changing priorities

  • Sound, demonstrable track record addressing strategic issues

  • Strong quantitative skills, particularly around statistics and strong attention to detail

  • Sufficient grasp of the relevant detail, to delegate when appropriate and to question uncertainties

  • Exceptional writing and quantitative skills, with ability to articulate complex concepts, translate into "user-friendly" language, and effectively present in text or slide format

  • Able to manage and provide leadership to a core team across multiple deliverables

  • Ability to manage virtual teams across silos


Competencies:



  • Self-starter, ability to quickly assimilate and articulate complex issues across a variety of topics

  • Proven ability to partner and collaborate across the Firm, excellent influencing, facilitation, and partnering skills, with the ability to build relationships, partner effectively and build a strong internal network  across functions and throughout the global Risk network together with the matrix at all levels of the organisation

  • 'Process Improvement' mindset to increase the effectiveness and efficiency of the services offered

  • Strong tenacity and resilient under pressure and self-motivated in a fast paced and demanding environment

  • Ability and willingness to operate at strategic and practical level

  • Highly engaged, strong attention to detail, and outcome oriented

  • Due to the scale of responsibilities, the successful candidate will be flexible, results orientated with the ability to deal with ambiguity and a diverse range of information.

  • The role demands a strong work ethic, analytical problem solving and the person should have a high level of integrity to deal with highly confidential data and be able to demonstrate initiative and senior leadership.


Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.

Valuing Diversity: Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organisational success.

Citi is an Equal Opportunities Employer
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